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Daiwa Office secures ¥39B of loans following property transactions

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Daiwa Office secures ¥39B of loans following property transactions

Daiwa Office Investment Corp. took out ¥39 billion of loans in connection with its recent divestments and acquisitions of certain office buildings in Japan.

The loans, which all have interest rates of one-month Japanese yen Tokyo Interbank Offered Rate plus 0.25%, will mature May 31, 2018.

The company secured a ¥12 billion loan from Sumitomo Mitsui Banking Corp., and three separate ¥9 billion loans with Sumitomo Mitsui Trust Bank Ltd., Mizuho Bank Ltd. and The Bank of Tokyo-Mitsubishi UFJ Ltd., respectively.